IFRS16 LEASES EXEMPTION

Hi,

Can anyone help to clarify the recognition for Leases Exemption please? For example:- 

Total payment for the vehicle is £10,211.79 for three years lease, applying 4% incremental borrowing rate the present value of future lease payment is £9,446.22 which equal to the RoU asset. Diminish level for capital is £10k. Should the leased vehicle be exempt as the RoU asset value is less than £10k?

Also, what should apply first if the lease is less than 12 months but  more than £10k and vice versa? And, for audit point of view, is it sufficient to rely the information gather from the services or should Finance review the sample of the lease agreements? As the services maybe missing some associated costs in the lease.

Thank you